Open AccessIndustrial Policy: Domestic Challenges, Global Imperatives, and Pakistan’s Choices
Author(s) -
Shahid Javed Burki
Publication year - 2008
Publication title -
the lahore journal of economics
Language(s) - English
Resource type - Journals
eISSN - 1811-5446
pISSN - 1811-5438
DOI - 10.35536/lje.2008.v13.isp.a3
Subject(s) - industrialisation , industrial policy , secondary sector of the economy , economics , government (linguistics) , public sector , poverty , public policy , economic interventionism , development economics , economic policy , economic growth , economic system , business , economy , international trade , political science , market economy , politics , linguistics , philosophy , law
Public policy is aimed at increasing the efficiency of the industrialsector in Pakistan. This paper looks at four issues. Firstly, it looks at theadjustments the new government needs to make to restore macroeconomicbalance. Secondly, it discusses the global changes that have occurred in theindustrial sector and how these could be incorporated into Pakistani policymaking. Thirdly, I have briefly discussed the history of policies implementedin Pakistan. Lastly, I have discussed the importance of decentralizedindustrial policy making. This paper also conducts an empirical analysis ofthe impact of industrialization on poverty. It is concluded that industrialdevelopment in Pakistan has historically been heavily dependent ongovernment intervention and there was poor growth in this sector ascompared to other Asian economies. The paper also presents five proposalsaimed at achieving higher growth in the industrial sector.